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Who is AFSA?

AFSA’s role

The Australian Financial Security Authority (AFSA) is the government agency responsible for the administration and regulation of the personal insolvency system in Australia. Their purpose is to provide a personal insolvency system that minimises the impact of financial failure on the community, produces equitable outcomes for debtors and creditors and enjoys public confidence through application of business laws, regulation and trustee services.

The Australian Financial Security Authority (AFSA) also maintains the National Personal Insolvency Index (NPII), a database containing information on past and present bankruptcies, insolvency proceedings, and administrations made under the Bankruptcy Act 1966.

The Australian Financial Security Authority (AFSA), are responsible for:

providing information about options to deal with unmanageable debt

providing registry services for the lodgement of forms relating to personal insolvency

regulating insolvency practitioners and undertaking investigation of alleged offences under the legislation

providing trustee services for the administration of insolvent estates and other types of trustee administrations, including Proceeds of Crime matters

The Bankruptcy Act creates the roles of the Inspector-General in Bankruptcy, Official Receiver and the Official Trustee. The Australian Financial Security Authority (AFSA), performs all of these roles.

The vast majority of Debtor’s we speak to who have had to deal with The Australian Financial Security Authority (AFSA), state that the experience was positive and nothing like they had imagined.

A link to The Australian Financial Security Authority (AFSA) is here: AFSA LINK